NCLAT sets aside order directing RIL to get stakeholders nod for transfer of RPPMSL's Digital EPC assets
The National Company Law Appellate Tribunal (NCLAT) has set aside the order of the NCLT that required Reliance Industries (RIL) to obtain the approval of stakeholders for transferring its digital engineering, procurement and construction (EPC) business from a subsidiary to the parent company. The NCLAT has said that the transfer of Digital EPC Undertaking from the subsidiary company into the parent company by way of the demerger is similar to the merger of a wholly-owned subsidiary with the parent company.
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